S&P Global spins off Mobility in 1-for-1 distribution to shareholders

S&P Global Inc. completed the spin-off of its Mobility division on July 1, distributing one share of the new company for each share held, creating two independent publicly traded firms.

"The successful completion of this separation reflects the extraordinary work and dedication of the S&P Global and Mobility Global teams over the past 15 months," said Martina Cheung, President and Chief Executive Officer of S&P Global. "Together, we have built a strong foundation for Mobility Global as an independent company and both companies stand well-positioned for the future."

Mobility Global, which began trading on the New York Stock Exchange under the ticker MBGL, brings together a portfolio of automotive data and analytics brands including CARFAX, automotiveMastermind, Polk Automotive Solutions and Market Scan. The company served automotive manufacturers, dealers, suppliers and consumers with vehicle-history reports, market forecasts and predictive analytics through its prior life as an S&P Global division. S&P Global said it expects to publish recast financial data for full-year 2025, the four quarters of 2025 and the first quarter of 2026 on July 6.

The separation allows each entity to pursue a more focused capital allocation strategy and valuation profile. S&P Global retains its core ratings, market intelligence and commodity insights businesses, while Mobility Global can tailor investments specifically to the automotive sector's transition toward electric vehicles, software-defined vehicles and changing consumer buying patterns. Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Evercore Group L.L.C. advised S&P Global on the transaction, with Davis Polk & Wardwell LLP and Baker McKenzie LLP providing legal counsel.

Mobility Global begins its life as a standalone company with a century-long history in automotive data. "For over 100 years, we have had the honor of serving the automotive industry," said Bill Eager, Chief Executive Officer of Mobility Global. "Our powerful brands — CARFAX, automotiveMastermind, Polk Automotive Solutions, and Market Scan — help people make better decisions with unique industry-leading information."

The company's financial profile will become clearer when S&P Global releases recast historical data next week. Matt Calderone, Chief Financial Officer of Mobility Global, said the company starts "from a position of financial strength, built on our powerful brands, trusted data, and deep, long-standing customer relationships." As an independent public company, Mobility Global can "further tailor our growth strategy, financial profile, and investments to the specific needs of the Mobility business and its customers," he said.

The spin-off structure — a pro-rata distribution of 100 percent of Mobility Global shares to existing S&P Global stockholders — meant no new capital was raised in the transaction. Fractional shares were not distributed; instead, they will be sold in the open market with cash proceeds remitted to the entitled stockholders. The transaction was structured to qualify as tax-free for U.S. federal income tax purposes, though both companies cautioned in regulatory filings that tax rulings could affect the treatment.

For investors, the separation introduces a pure-play automotive data and analytics company into the public markets at a time when the industry faces rapid technological change. Joe Hinrichs, Chairman of the Board of Mobility Global, said the "decisions facing automotive manufacturers, dealers, and suppliers today are more complex and consequential than ever before," adding that "trusted information is essential" in this environment.

This article is for informational purposes only and does not constitute investment advice.